Questions

Questions to ask yourself before buying a Toronto condo.

This is a pretty comprehensive list of things to ask yourself that may help you avoid some of the mistakes others (including myself, many years ago) have made when buying a condominium...

Seems like a lot of things but you can save you a lot of heartache and potentially a lot of money if you consider just a few of them.

I wish my realtor had given me a list of these questions when I bought that first condo.

Location Questions

• Is the condominium in the neighborhood I want?

• Is there a school nearby?

• Is it accessible by public transit?

• Is the commute time to work acceptable?

• Is it close to amenities (e.g. shops. theatres, restaurants, etc.)?

Amenities Questions

• Does the condo have recreational facilities?

• Does it have an exercise room?

• Does it have a pool?

• Does it have a party room?

• Does it have a convenience store?

• Does it have a children's area?

• Does it have parking available? Indoor or outdoor?

• Guest parking?

• Does it have suitable storage available?

Condo Rules and Regulations Questions

• Are the condominium rules and restrictions clearly defined and understandable?

• Are the condominium rules and regulations reasonable (can I live under these rules)?

• Are there rules about the numbers of occupants permitted?• Can I rent out my unit?

• Does the Board of Directors (or developer) seem helpful in explaining the rules?

• Can I operate my business from the condominium?

• Can I take my pet?

• Does the management fit my lifestyle (property Manager vs. self-managed)?

Affordability Questions

• Is the purchase price of the condominium within my budget!

• Can I afford the monthly condominium fees along with my mortgage payments, taxes, insurance and other expenses

• Does the price seem reasonable for what I am getting?

• Are there upgrades available that I need or want and how much would they cost

• Are finishes included in the purchase price?

• Is cable/satellite and/or Internet access included

• In the monthly condominium fees, and if not, how much would they cost?

• How is the condominium heated/cooled/ventilated?

• Is the building energy and water efficient?

• Are utilities included In the monthly condominium fees, and if not, how much can I expect to spend each month?

Building Questions

• Is the condominium (e.g. high-rise, low-rise, townhouse, freehold, loft) the type that I want?

• Will the construction be finished on time and if not, can I wait?• Is the building attractive?

• Is the condo in good physical condition?

• Does it seem well built (or well maintained)?

• Will the condominium be durable?

• Are the grounds attractive and well maintained?

• Is the unit attractive?

• Is it the right size

• Does it have the features (e.g. fireplace, number of bedrooms, balcony) I want?

• Does it have enough storage space?

• Does it have enough light?

• Does it have fire protection systems (e.g. smoke detectors, s sprinklers)

• Does everyone in the family like it?

• Manager vs. self-managed?

The Condominium Corporation Questions

• Is the condominium corporation in good financial condition

• Is all documentation for the condominium accessible and in good order?

• Are there any legal claims or judgments against the condominium corporation

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Community and Lifestyle

• Is the condominium strictly residential, or is it mixed use?

• What is the proportion of Owner-occupied to rented units?

• Is it accessible for people with special needs?

• Do the current occupants seem friendly and happy?

• Are there any noise Implications? Roadways, neighbors, garbage chutes and elevators

Questions to Buying a Condo

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